Synchronoss Technologies Hits New 52-Week High at $42.35 (SNCR)
Synchronoss Technologies (NASDAQ:SNCR)’s share price hit a new 52-week high during trading on Wednesday , Analyst Ratings.Net reports. The company traded as high as $42.35 and last traded at $42.07, with a volume of 447,044 shares trading hands. The stock had previously closed at $41.66.
A number of research firms have recently commented on SNCR. Analysts at Stifel Nicolaus raised their price target on shares of Synchronoss Technologies from $46.00 to $49.00 in a research note on Thursday, July 31st. Separately, analysts at Wedbush raised their price target on shares of Synchronoss Technologies from $45.00 to $50.00 in a research note on Thursday, July 31st. Finally, analysts at Credit Suisse raised their price target on shares of Synchronoss Technologies from $46.00 to $56.00 in a research note on Thursday, July 31st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Synchronoss Technologies has an average rating of “Buy” and a consensus target price of $43.67.
The stock’s 50-day moving average is $36.77 and its 200-day moving average is $33.45. The company has a market cap of $1.692 billion and a P/E ratio of 48.22.
Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.01. The company had revenue of $103.50 million for the quarter, compared to the consensus estimate of $102.22 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 23.6% on a year-over-year basis. Analysts expect that Synchronoss Technologies will post $1.69 EPS for the current fiscal year.
In other Synchronoss Technologies news, EVP Patrick Joseph Doran sold 4,910 shares of the stock on the open market in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $40.87, for a total transaction of $200,671.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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